Chase Investment Counsel Corp Increases Stock Holdings in APi Group Corporation $APG

Chase Investment Counsel Corp increased its holdings in APi Group Corporation (NYSE:APG) by 23.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 116,636 shares of the company’s stock after acquiring an additional 22,001 shares during the period. Chase Investment Counsel Corp’s holdings in APi Group were worth $4,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APG. Vanguard Group Inc. lifted its stake in APi Group by 49.6% in the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. Durable Capital Partners LP lifted its stake in APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp lifted its stake in APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after acquiring an additional 3,620,931 shares during the period. Invesco Ltd. lifted its stake in APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after acquiring an additional 3,535,682 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in APi Group by 86.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,430,657 shares of the company’s stock worth $207,798,000 after acquiring an additional 2,511,993 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Insider Activity

In other news, Director Martin E. Franklin sold 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares in the company, valued at $868,308,614.88. This trade represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares of the company’s stock, valued at $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,126,000 shares of company stock worth $217,071,030 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

APi Group Stock Performance

Shares of APi Group stock opened at $43.21 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $18.72 billion, a P/E ratio of -60.86, a P/E/G ratio of 2.54 and a beta of 1.67. The business has a fifty day simple moving average of $43.68 and a two-hundred day simple moving average of $41.56. APi Group Corporation has a 12 month low of $30.00 and a 12 month high of $49.99.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank Of Canada raised their price objective on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Robert W. Baird set a $52.00 price objective on APi Group in a research report on Friday, May 1st. Barclays reissued an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Finally, UBS Group raised their price objective on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.14.

APi Group Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.